Living Trusts
None of us wants to think about our own death. However, since that is inevitable, a living trust is an important estate-planning tool that can help save the expense and delay of distribution. It may also help married couples avoid estate taxes.
A Living Trust is a trust that you create during your lifetime and to which you transfer your assets. Once your assets are transferred to your Living Trust, it is the trust, rather than you, that is the legal owner of your assets. However, you retain complete control over your assets.
When you die, the assets in your Living Trust do not have to go through probate. Rather, the person that you designate in the Living Trust document to act as trustee after your death has full authority to manage and distribute your assets in the manner that you direct.
Contact an O.W.D estate planning lawyer to handle all your living trust needs.